CEU InnovationsLab Team AbsoRice Wins Cerbona Investment

February 23, 2018

CEU InnovationsLab team AbsoRice, a maker of vegan, gluten- and sugar-free protein bars, has entered into a strategic partnership with Hungarian market leader cereal producer Cerbona. AbsoRice will move production to Cerbona's new gluten-free production facility and the companies will pursue joint distribution, logistic and marketing activities. Cerbona  obtained a minority stake in AbsoRice. AbsoRice will introduce a brand new vegan product line in 2018 developed in CEU InnovationsLab's Makerspace.

AbsoRice is the first CEU InnovationsLab team to complete a deal with a strategic investor. Two other teams – HashtagSchool and ShareKiwi – also received funding that will help them fully develop their products. Investment raised by startups is a key performance indicator of any incubator. 

The CEU InnovationsLab, now in its third year, currently houses 14 projects.  Maturing teams such as AbsoRice now also act as mentors and coaches to younger teams.

The CEU InnovationsLab nurtures a culture of entrepreneurship in the region by linking academia and business, enabling students and alumni to grow startup businesses. In one example, the course Private Equity and Venture Capital” offered by CEU's Department of Economics and Business and taught by Gabor Baranyai, now uses case studies exclusively based on CEU InnovationsLab teams and projects.

CEU InnovationsLab was voted Hungary's best incubator at the Central European Startup Awards, and the only university incubator nominated for Best Incubator/Accelerator in Central Europe.

For more information, see http://www.absorice.hu/